ORDER

IA No. 924 of 2020:-

The present application has been filed by Mr. Naresh Kumar Goel, the liquidator of the corporate debtor under section 60(5) of the Insolvency and Bankruptcy Code, 2016 (herein referred to as IBC) for seeking directions, in respect of the release of the Fixed Depository Receipts (herein referred to as FDRs).

2. The applicant has stated the following facts in its application:-

a) This Adjudicating Authority passed an order dated 21.11.2019 admitting the CIRP against M/s BR Knitwears Private Limited (herein referred to as corporate debtor) and Mr. Naresh Kumar Goel was appointed as the Interim Resolution Professional of the corporate debtor.

b) In the second meeting of the COC held on 24.12.2019, it was resolved to file an application before this Adjudicating Authority for the liquidation of the corporate debtor as there were no possibilities of revival of business of the corporate debtor. On an application, this Adjudicating Authority on 13.03.2020 passed an order for the initiation of liquidation of the corporate debtor, and the applicant was duly appointed as the liquidator of the corporate debtor.

c) The liquidator made a public announcement in accordance with